Chief Adviser Professor Muhammad Yunus called on Singapore to aid Bangladesh in retrieving billions of dollars laundered abroad and to help reduce migration costs for Bangladeshi workers. Professor Yunus made this request on Sunday during a meeting with Singapore’s Ambassador to Bangladesh, Derek Loh, at his office in Tejgaon, Dhaka.
"Significant funds have been illegally transferred from Bangladesh to various countries, including Singapore," said Professor Yunus, highlighting the need for Singapore's cooperation. Ambassador Loh assured Dhaka of Singapore’s commitment to assisting in the recovery efforts.
The Chief Adviser also urged Singapore to collaborate with Bangladesh in lowering recruitment costs for migrant workers, with the goal of enabling workers to remit more to their families. “We could establish a model with Singapore to reduce these costs,” he suggested.
Ambassador Loh expressed Singapore’s interest in improving transparency in recruitment, proposing that Bangladesh digitalize its overseas recruitment processes to help combat human trafficking and exploitation.
Their discussions extended to trade, investment, shipping, education, and healthcare cooperation, as well as Bangladesh's foreign policy under the Interim Government. Professor Yunus noted Bangladesh’s rapid economic recovery, encouraging investment and business partnerships in the country. “This is a prime time to do business in Bangladesh,” he remarked.
Also present were Francis Chong, Senior Director of Singapore’s Ministry of Trade and Industry, who noted that a Free Trade Agreement (FTA) proposal made by Bangladesh in 2021 had completed its feasibility study, paving the way for negotiations. Singapore also offered expertise in water treatment and waste-to-energy management and proposed collaboration between the two nations’ food agencies.
Discussing Bangladesh’s foreign policy, Professor Yunus sought Singapore’s support for Bangladesh’s bid to become an ASEAN sectoral dialogue partner. Ambassador Loh responded positively to the request.
The meeting was attended by Lutfey Siddiqi, the Chief Adviser’s special envoy; Lamiya Morshed, Senior Secretary and Principal Coordinator of SDG Affairs; and Michael Lee, Singapore's Charge d’affaires in Dhaka.
Bd-pratidin English/ Jisan
